Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 93,603 $ 99,859 $ 103,479
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40,871 40,892 43,560
Loss on disposal or impairment of property, plant, and equipment 9,344 1,582 6,485
Deferred income taxes 8,818 7,140 (3,582)
Stock-based compensation 8,878 7,833 7,870
Excess tax benefit from employee stock plans (1,532) (1,016) (1,828)
Changes in operating assets and liabilities:      
Accounts receivable 27,442 18,166 (54,334)
Inventories 34,089 2,951 (55,223)
Prepaid expenses and other current assets 5,166 (2,025) (10,186)
Other assets (4,215) (1,259) (4,520)
Accounts payable 31,711 (12,330) 19,081
Accrued liabilities 12,210 (5,199) 17,630
Income taxes payable 5,534 (11,052) (7,010)
Other liabilities 2,356 3,126 2,374
Net cash provided by operating activities 274,275 148,668 63,796
Cash flows from investing activities:      
Purchases of short-term investments (125,390) (83,969) (46,349)
Sales of short-term investments 78,636 42,319 112,070
Capital expenditures (69,443) (50,491) (78,404)
Proceeds from sale of property, plant, and equipment 111 7,099 168
Net cash used in investing activities (116,086) (85,042) (12,515)
Cash flows from financing activities:      
Proceeds from credit facilities 69,136 100,654 119,384
Repayments on credit facilities (69,292) (100,498) (119,384)
Proceeds from issuance of common stock under employee stock plans 19,537 14,600 10,991
Tax payments related to restricted stock unit issuances (2,291) (1,486) (2,974)
Excess tax benefit from employee stock plans 1,532 1,016 1,828
Repurchase of common stock 0 (206) (20,000)
Capital contribution from non-controlling interest 8,000 0 0
Cash dividends paid (31,298) (29,780) (29,075)
Net cash used in financing activities (4,676) (15,700) (39,230)
Net effect of exchange rate changes on cash (6,805) 1,821 (5,274)
Net increase (decrease) in cash and cash equivalents 146,708 49,747 6,777
Cash and cash equivalents, beginning of year 290,781 241,034 234,257
Cash and cash equivalents, end of year 437,489 290,781 241,034
Supplemental disclosures of cash flow information:      
Cash paid during the year for income taxes 22,771 43,696 42,405
Supplemental disclosures of non-cash investing activities:      
Capital expenditures incurred but not yet paid $ 5,195 $ 5,313 $ 952